YELLOW PAGES INCOME FUND
TSX : YLO.UN

YELLOW PAGES INCOME FUND

January 15, 2010 15:34 ET

Yellow Pages Income Fund Announces Retirement of Donald F. Mazankowski as Trustee and Board Director

MONTREAL, QUEBEC--(Marketwire - Jan. 15, 2010) - Yellow Pages Income Fund (TSX:YLO.UN) today announced that the Right Honourable Donald F. Mazankowski has retired from his positions as Trustee of Yellow Pages Income Fund and YPG Trust, and Director of YPG General Partner Inc. The retirement went into effect January 1, 2010.

"On behalf of Yellow Pages Group and its Board of Directors, we wish to thank Don for his devoted service," said Marc L. Reisch, Chairman, Yellow Pages Income Fund. "With his long and distinguished career in public service and business, Don has been an invaluable asset to Yellow Pages Group since its initial public offering in 2003. We will miss his judgment and sound counsel, and wish him the very best in his retirement."

"In the name of the Yellow Pages Group management team, we wish to extend our sincere gratitude to Don for his important contribution to the Company," said Marc P. Tellier, President and Chief Executive Officer of Yellow Pages Group.

About Yellow Pages Income Fund

Yellow Pages Income Fund indirectly holds an approximate 99% ownership interest in Yellow Pages Group and Trader Corporation. Yellow Pages Group is Canada's leading local commercial search provider. It publishes annually more than 340 Yellow Pages™ and residential directories. The Company owns and manages Canada's most visited online directories, YellowPages.ca™ and Canada411.ca™, as well as CanadaPlus.ca™, a network of seven local city sites. Trader Corporation is a Canadian leader in print and online vertical media with over 160 publications and 20 web sites covering four product verticals: automotive, real estate, generalist, as well as employment and other. Its main print brands include Auto Trader™, Auto Hebdo™, The Bargain Finder™, Buy&Sell™, Renters News™ and Home Renters' Guide™, and its online destinations, AutoTrader.ca™, HomeTrader.ca™, and LesPAC.com. For more information about the Fund, visit www.ypg.com.

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